AR as an effective tool for your jewellery business in the 21st Century.

Virtual TRY-ON technology is not just a trend that will fade away. It is going to take over the market. In a report by Statista, there are 810 Million AR/VR users globally. In 2021, the AR/VR industry was $9.5 billion. In another depiction, Statista states that by 2028 the Market size of the AR industry will raise over $252 Billion.

Augmented Reality

Augmented Reality is an improved and incredible rendition of the real physical world achieved by computer-generated data, visuals, and other sensory stimulations. Combining the virtual and the actual/real world with real-time interaction provides a seamless and smooth experience for the user.

How does Augmented Reality Work?

Augmented Reality starts with camera-equipped devices like smartphones, laptops, glasses, or tablets packed with Augmented reality software. There are several ways where Augmented Reality can be used in business. For Example, when the device is pointed at an object, the software recognizes the object through image-processing, analyzing the video.

Augmented Reality can enhance the online shopping experience by displaying a virtual object in the real world, like trying jewellery and spectacles on the face, trying apparel or shoes, and placing furniture in drawings or dining rooms.

Market scenarios

Indian global market has a 29% share in global jewellery consumption, making India the second biggest gold consumer. The jewellery industry has the highest volume of cash flow, and it will continue to increase with time. The jewellery industry has observed an adaptive technological change. Now the industry is more tech-driven and will continue to be.

The jewellery industry is integrating technology and tools to market it well and systematically, focusing on offering a healthy buying experience to the users. The eCommerce market has also played a crucial role in providing a seamless experience to the user. The eCommerce market alone has a market cap of $84 billion in 2021 and is projected to be $200 billion by 2027.

Role of Augmented Reality in the Jewellery Industry

Nowadays, with the help of Augmented Reality (AR), jewellers can show their craftsmanship to the world without putting too much effort.

Augmented Reality helps designers and manufacturers in promoting and marketing their exclusive pieces.

The virtual Try-On feature has elevated jewelers’ standard and craftsmanship with the technology’s simple and easy-to-adaption methods.

The traditional process is a limited approach for the designers/jewellers to promote their work. There is a limitation to the number of jewellery shops that can be opened physically worldwide. Using virtual Try-On, users can try thousands of jewellery designs with just a few clicks without going to a physical shop.

Benefits of Augmented Reality in Jewellery

Virtual TRY-ON – Virtual Try-On lets users try thousands of different jewellery pieces without hassle.

AR Conference – With Augmented Reality video conference, customers can invite family and friends over a group call with sales teams to facilitate decision-making.

Effortless User Experience – Customers can explore the best jewellery experience by projecting real-looking impressions, which benefits both the customer and the seller. The seller doesn’t have to put much effort into physically showing all its craftwork.

Marketing Strategy with AR – It is one of the most significant benefits of Augmented Reality. Jewellers attract customers to try their splendid and luxurious jewellery pieces without even letting them touch the jewellery, an intelligent and smart way of selling.

In a modern era where 67% of the users want augmented technology to buy jewellery, a brand must use technology to lure customers. Brands like Kalyan Jewellers and Tanishq Jewellery use Augmented Reality to simplify purchasing jewellery. At the end of the day, a brand has to make things look easy, simple, and experiential to make maximum conversions and tractions.

JewelTryStudio, a Virtual Try-On solution, presents an immersive shopping experience using AR+AI technology. JewelTryStudio is an advanced virtual jewellery studio for jewellers to educate and engage customers and improve overall conversions. Explore JewelTryStudio features like Digital catalogs, Virtual Try-On, AR conferencing, AR-based make-up filters, Real-time Image enhancements, etc., to create a fantastic User Experience for your Customers! Contact Us for more detail!

Source Links:

https://www.statista.com/topics/3286/augmented-reality-ar/#dossierKeyfigures

https://www.statista.com/statistics/591181/global-augmented-virtual-reality-market-size/